Dana Egypt: No Cash, No Work

UAE-based Dana Gas, a key partner in the KRG’s Pearl consortium, is suddenly all ‘good news’ on the region after last year’s settlement of an often-acrimonious payments dispute.

But Egypt remains in the dog house. End-2017 receivables owed by state firm EGPC for oil and gas output fell to $228mn from $265mn a year earlier. But all of this fall, and then some, was achieved in the first half of 2017 – the figure stood at $189mn as of June 2017, a seven-year low.